Shanghai equities are intact, Hong Kong shares rally

13:18 06.06.2018

On Wednesday, Shanghai shares didn’t change at the close of trade because the surge of stocks of transport companies as well as producers of raw materials compensated the dive in securities of financial institutions and real estate companies.

The transport sector managed to grow led by equities of China Southern Airlines that soared by 5.1%.

Paper telecommunications sector companies were nearly intact after the news that the Chinese telecommunications equipment producer ZTE Corp signed a principled agreement with America. The given pact is expected to remove the previously imposed limitations of the US Department of Commerce.

The largest percentage rally in the Shanghai Composite Index was demonstrated by the equities of Hangzhou Advance Gearbox Group Co Ltd that jumped by 10.04% and also Wuxi New Hongtai Electrical Technology Co Ltd and Shanghai Shine-Link International Logistics Co Ltd that soared respectively 10.03% and 10, 02%.

The Hong Kong stock market concluded the trading session up, showing surge for the fifth consecutive trading marathon. At the same time, market participants kept closely watching the development of the situation with trade talks between China and the United States.

Besides this, the index of Hong Kong Stock Exchange Hang Seng soared by 0.5% hitting 31.259.10. As for the index of Chinese companies traded in Hong Kong, it managed to gain 0.2% being worth 12.283.58.

The top performers included shares of AAC Technologies Holdings Inc that soared by 9.28%.

On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…